Author and Job Role: Kelvin Menon – Treasurer
Protective Marking: OFFICIAL
Executive Summary
The Financial Monitoring report for the 2022/23 year end shows an underspend of £1.1m after taking account of the £7.5m of reserve transfers made earlier in the year. This is based on an approved budget of £279.1m for the year. Capital was £6.7m underspent due to the timing of various projects.
Financial Regulations state that all budget virements over £0.5m and asset writeoffs must be approved by the PCC. These are included within this decision notice.
Background
View the Year-end Financial Performance and Budget Virements decision paper here.
This document has been attached as an open word document for accessibility.
Police and Crime Commissioner Approval
I note the financial performance as at the 31st of March 2023 and approve the virements and reserve transfers as set out above in the report.
I also approve the write off of stock of £239,872 as set out in this report.
Signature: Police and Crime Commissioner Lisa Townsend (wet signed copy held at PCC Office)
Date: 02 August 2023
All decisions must be added to the decision register.
Areas of consideration
Consultation
None
Financial implications
These are set out in the paper
Legal
None
Risks
The third quarter of the year has continued to be very challenging in terms of staff recruitment. Whilst this has resulted in an underspend there are gaps in a number of areas leading to increased pressure on remaining staff and impacts risk to performance. This is being kept under review so that risks can be managed.
Equality and diversity
None
Risks to human rights
None